The Russellville Democrat. [volume] (Russellville, Ark.) 1875-1898, 1887-02-23
CORRESPONDENCE.
Aunt Wash on the Anaconda
MOrtgage-NO. z. !;

nOI dSC-INOs 80
Mscauley was great historian, a
terse writer and a merciless critic.
He had, in his time, grasped the
whole system of political economy,
and each and every law, in every
important reign of England's mon
archs, was, when necessary, clearly
calculated by him. But did that
paragon of historians and essayists
have our mortgage system to deal
with? | am afraid that he, too,
would encounter some difficulties in
calculating it. | propose to devote
this number to the discussion of one
proposition, viz: A majority of
men who buy goods upon credit, use
less economy in purchasing than
when cash must be paid for each ar
ticle.
Go TO the merchant who has had
practical experience in selling goods
under the mortgage system, and he
will tell you that about two in three
who mortgage year after year will
spend more money foolishly and buy
more ARTICLES that are absolutely
useless than the money used would,
economically invested, be required
to buy an abundant supply of pro
visions, etc. to enable the mortgagor
to plant, cultivate and gather crop.
The result of this reckless expendi-
ture of money is too well known to
need discussion. Regardless of the
amount raised and produced by the
farmer who does not economize at
home, he can never more than make
both ends meet. Everything that
he uses is bought of his merchant.
He raises cotton and depends upon
that crop not only to furnish farm
ing implements, but each and every
article Of clothing and provisions
used by himself and family. | can
safely say that the man who exc
cutes one mortgage. aud by a eco.
nomical expenditure of money sue.
ceeds in paying it off when it be
comes due, is rarely compelled to
mortgage second time. | know
farmers in Pope county to day who
obtained supplies, etc, TO enable
them to plant and cultivate crops,
under the old law, thirteen years
ago, and who have mortgaged each
year on down to this writing, and
will mortgage again this year. They
have made no progress in accumu-
lating property, and some OF them
have even less than they started
with. Why is this? I do not mean
to apply the assertion to any par
ticular individual when | say that
the fault is IN the mortgagor alone,
Show me a farmer who raises his
own hogs and corn, who carefully
feeds and watches his cattle and his
horses, who lives at home and eats
and wears the actual products OF his
own labor, and | will in turn show
you one whose property is never en-
numbered with mortgage, and one
who always has some money to use
when he needs it. The fact is thai
our farmers and our farmers boys
have lost sight OF the main Object
which actuated our forefathers
"Liye at home l will illustrate
| know a man in Martin township
who is known to be man of means
He has raised large family, accu
INFLATED considerable amount 0
property, and his promise to pa,
money is as good as any mans. a
short time ago, being out in tina
part of the country on business,
called on him and stayed at hi
house two days. / found has barn
we'll stocked with corn, fodder, hay
etc. HIS killing hogs were in tn
pen ready for slaughter; his milcl
cows, sheep and stock cattle were II